News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EURUSD Break Would Test 12825

EURUSD Break Would Test 12825

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Break Would Test 12825

Prepared by Jamie Saettele, CMT

“The EURUSD is has reached the 2nd standard deviation Bollinger band (20 day), which has pinpointed tops since the 2012 top was set in February. The level is reinforced by the underside of the former base channel (dashed line) and May congestion (notably 12725-12825).” Given reward/risk, I lean bearish at this level towards 12630 and short term channel support but trading above 12746 would delay and trigger a move to 12825 (and channel resistance just above 12825).

LEVELS: 12530 12556 12640 12746 12825 12910

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES